US chip manufacturer Micron Technology announced on Thursday (June 12) that it will invest about US$200 billion (about S$255.7 billion) to expand production and R&D activities in the United States.
Micron has previously promised to invest about $125 billion in the U.S. to build a factory, including a storage chip factory in Idaho, but began to slow down some plans last year. The newly announced production line investment part is an additional approximately US$30 billion from the previous investment amount.
The specific timetable for this $200 billion overall investment plan is still unclear. In recent years, Micron's annual capital expenditure budget has ranged from $7 billion to $12.5 billion.
This is the latest semiconductor industry that promises to invest heavily in the United States after President Trump vigorously promoted the "America First" policy and moved key manufacturing activities back to the United States.
Microel issued a statement on Thursday saying that about $150 billion of the investment will be used for production facilities in the United States, and another $50 billion will be used for research and development.
Micron's stock price fell 1.17% to $114.74 in the first 10 minutes of opening trading on Thursday.